0IC8 trade ideas
DLTR Day Trade Retest Gap (Brad Reed May21,2015)If DLTR gaps below 76.03 consider using the Retest Gap strategy. To receive a free and complete stock trading education go to www.RealLifeTrading.com
DLTR gaps up on higher volumeOn yesterdays earnings announcement price gapped up on DLTR (with higher volume). This offers a good near-term opportunity to buy this stock for a quick profit. Ideally, it would've been nice to have seen a more bullish bar.
For longer-term opportunities this stock has trended well in the past, but since June 2012 the trend has not been able to re-established itself. In late October 2014 the most recent upward wave began and, after breaking the October 2013 pivot high at around $60, it has shown more strength.
With two gaps up on higher volume and a retest of the October 2013 pivot this could well turn into a good longer-term opportunity, again.
DLTR GREAT BUY OR ???Dollar Tree has had an enormous run and the 100 day EMA has been a great support for this run. This is the first time it dipped below the 100 day and it has been below for about a week now.
The dashed lines are notable price points where funny things may happen.
I would expect it to go sidewaysish (It's in Websters) to allow for the EMA's to converge.
If you are bullish then right now is a great buy, but I would wait for confirmation first.
I will keep watching and add comments as it becomes more clear on the direction it may go.
Any other thoughts are welcomed.
DLTR - new sideways channel consolidation?DLTR - sideways consolidation, trend intact for now. at support levels, low risk.
possible short,long over 42.25Indicators generally pointing down, but be ready for break out over 42.25 on the upside
